Apple Stock on Track for 10th Day of Gains

April 9, 2019 Share Print 0

Apple’s stock is on quite the winning streak.

Shares of the tech giant are up in the premarket, putting it on pace to post their 10th straight day of gains on Tuesday. That hasn’t hasn’t happened since October 2010. The rally comes after Apple’s celebrity-packed event on March 25 initially disappointed investors and Wall Street.

Apple unveiled three new subscription services two weeks ago, including a TV service, gaming bundle, and all-you-can-read magazine subscription. It also announced a credit card in partnership with Goldman Sachs. But the announcement underwhelmed analysts as the pricing of TV streaming is still up in the air and they expect limited reach of Apple Card. Shares of Apple fell on the day of the unveil as well as the day after.

Now the dust has settled, the focus has returned to Apple’s flagship product, the iPhone. While the tech giant has suffered from slowing demand for the smartphone, it still holds a leading position in the market, analysts said.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.